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Stratos Technologies Secures Participation from WebBank in ABL Revolver

March 11, 2021, 08:00 AM
Filed Under: Investment Financing

Stratos Technologies, a venture capital firm with expertise in financing, operating, and advising technology businesses, secured leverage through a first-out participation structure with WebBank in an asset-based revolving credit facility to one of its financial technology (FinTech) portfolio clients.  
WebBank is a national issuer of, and capital provider to, consumer and small business credit products through Strategic Partner platforms, which includes retailers, manufacturers, finance companies, credit funds, and FinTech companies.

Stratos will leverage debt capital from WebBank to expand its best-in-class credit lending solutions to certain FinTech portfolio clients. The new financing underscores WebBank’s confidence in Stratos’ ability to source, underwrite, structure and service lending facilities for the underlying assets that are driving through FinTech platforms in this age of digital lending transformation.   

“We are pleased to be partnering with WebBank on this transaction and plan to seek additional avenues to work with the team at WebBank to facilitate the success of our portfolio companies,” says Stratos Founder and Chief Investment Officer, Rennick Palley.

“WebBank is very excited to expand its investment footprint in the FinTech space through this initial leverage transaction in partnership with Stratos,” says Jason Lloyd, President of WebBank.  “We are committed to providing capital for the transformation of digital lending through FinTech platforms, and our strategies closely align with Stratos’ beliefs that technology will ultimately transform every industry.”

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